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Ajax Amsterdam, the four-time European champions, will take on Swiss club Young Boys, while Arsenal face Greek side Olympiakos and Tottenham Hotspur, the third English club to reach the last 16, will tackle Dinamo Zagreb. European debutants Granada of Spain will face Norwegian club Molde while AS Roma face a tough tie against seasoned European contenders Shakhtar Donetsk. * Werder Bremen's United States forward Josh Sargent scored the winner as his struggling side came from a goal down at halftime to beat Eintracht Frankfurt 2-1 in the Bundesliga on Friday and hand the visitors a first league defeat of the year. Victory moved Werder eight points above the relegation zone while ending fourth-placed Frankfurt’s 11-match unbeaten run in the Bundesliga, stretching back to early December. * Fifteen-time major winner Tiger Woods is recovering and in "good spirits" after he received successful follow-up procedures on injuries sustained this week in a car accident, according to a statement posted to his Twitter account on Friday. * Dutch driver Nyck De Vries started Formula E's seventh season with victory for Mercedes in the all-electric world championship's first night race in Saudi Arabia on Friday. Swiss racer Edoardo Mortara finished four seconds behind for the Monaco-based Venturi team, who also use the Mercedes powertrain, with New Zealander Mitch Evans third for Jaguar. * Burnley manager Sean Dyche may have no intention of selling goalkeeper Nick Pope anytime soon but crisps and a pint of beer in a pub during lockdown in Britain could tempt him to allow the player to move, the 49-year-old said jokingly on Friday. * Ferrari Formula One boss Mattia Binotto will not attend all races this season, delegating to racing director Laurent Mekies as the team's focus turns to making the most of major rule changes for 2022. * Fernando Alonso will take no part in media activities when his Alpine Formula One team present their new car next Tuesday, with the Spaniard …

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Vo Van Hoan, Vice Chairman of the city People’s Committee, said in the first two months, on average the city collected 2.9 trillion VND each day, which was higher than the average daily revenue. In January, the city collected 40 trillion VND, up 2.9 percent year-on-year, he added. To date it has collected 74,500 billion VND, accounting for more than 20 percent of the year’s target, up 10.5 percent year-on-year. The Tax Department aims to collect at least 25 percent of the yearly budget revenue target in the first quarter. The city’s retail sales of goods and services increased by 4.7 percent, while industrial production went up 6 percent in the first two months. The city’s exports reached 8 billion USD, a rise of 25 percent year-on-year (three major exports with increased revenues are fertilisers, plastic materials and auto spare parts). More than 3,800 enterprises resumed operation in the first two months (up 3 percent year-on-year). Some 700 enterprises completed dissolution procedures in the period (down 14.5 percent year-on-year). However, the service sector, especially tourism and accommodations, which accounts for more than 60 percent of the city’s total budget revenue, has been hit hardest. Tourism revenues decreased by 70 percent with accommodation services dropping by 14 percent. The outbreak has caused a significant decline in international visitors to the country, according to Hoan. For pandemic prevention, the city has contained the infection hotspot at Tan Son Nhat international airport with 36 cases recorded since the end of January. The city has gone 20 days without any locally transmitted infections, he said. Some non-essential services have gradually reopened. Students returned to school on March 1. The city has ordered individuals and organisations to continue to strictly implement precautions against the virus. “The city is always ready for the worst pandemic scenario,” he said. Regarding tasks for 2021, the city will …

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The survey notes that the global economy contracted by around 4.5 percent in 2020, the biggest fall in global activity in several decades. Having recovered from lockdown-imposed weakness in the first half of the year, many economies again faced weakness as a second wave of COVID infections triggered renewed lockdowns. The survey envisions a steady recovery this year, but continued uncertainty limits the bounce in consumer and busines confidence, with pre-crisis output not being reached until mid-2022. The survey also indicates that the Global orders, employment and capital investment indices recorded a further modest improvement, but still point to activity well below the pre-crisis level in the fourth quarter of 2019. The “fear” indices which means the concern about customers and suppliers going out of business, edged lower in the fourth quarter (Q4) of 2020 but remain elevated, clearly underlining the extreme uncertainty in the global economic outlook at the start of 2021. At the same time, inflation concerns remain negligible with concern about costs staying close to an all-time low. “Last year was the worst for the global economy for several decades,” said Warner Johnston, Head of ACCA USA. “2021 will see recovery, but precisely when and how strong it will be is very uncertain. We anticipate a weak start, followed by a recovery gathering momentum through the second half. Much depends on the evolution of the COVID virus and variants relative to the progress of vaccination programs, and there is great uncertainty surrounding these developments.” Agreed with this points, Raef Lawson, IMA vice president of research and policy analysed the policy responses to the pandemic that have left public finances of most economies in a perilous state with budget deficits in the range of 10 percent to 15 percent of GDP in many countries with debt to GDP ratios well over 100 percent. In North America, confidence dropped in Q4, having jumped by the most on record in Q3. …

[Read more...] about Global economy: Fragile confidence in early 2021